Middle Market Digest: This Week in the South and Mountain Regions

After a couple of lackluster quarters, the US office sector rebounded in the second quarter in terms of net occupancy growth, according to Cushman & Wakefield. Nationally, rents continued to ascend to a new high; however, rising construction levels slowed the appreciation rate in most markets. In the second quarter, absorption increased to 12.8 million square feet, up from 6.3 million square feet in the first quarter and the highest level since the third quarter of 2016. Of the 85 markets tracked by Cushman & Wakefield, 66 reported positive net absorption of office space, while 19 reported declines. Of course, the Southern states including the Texas metros are not immune to those gangbuster levels of activity, with development and leasing most acute in Dallas and its suburbs.—Lisa Brown

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